Sturm Ruger price target lowered to $54 from $64 at Lake Street

Lake Street lowered the firm’s price target on Sturm Ruger to $54 from $64 and keeps a Buy rating on the shares. The company’s Q3 results missed the firm’s expectations as it had lower-than-expected orders, the analyst tells investors in a research note. A promotional environment, lower demand for firearms, and lower prices on select models impeded sales during the quarter, the firm added.